Micro-cap stock is India’s second-largest processor and exporter of processed fruit and vegetable products, jumped marginally in the day’s trade after the launch of its new joint venture, which is going to manufacture a product, that is mostly(95%) imported in India.
At 3:15 p.m. the shares of Foods & Inns Limited were trading at Rs. 171.20, up 0.65 percent from its previous day’s close price of Rs. 170.10 and its market capitalization is Rs. 143.54 Crores.
Foods & Inns has launched its new joint venture firm named ‘ Beyond Mango’ at Chittoor in Andhra Pradesh. This joint venture is 50 percent owned by Foods and Inns and the technology partners hold the balance 50 percent. The first phase has been launched with a capacity of 150 MTPA.
This project converts fruit waste into Pectin, Oils, and butter, currently 95 percent of India’s Pectin requirement is imported. Pectin has a huge potential in India since they are plant and fruit-based i.e. making them vegetarian as compared to Gelatine which is a similar product made of animal fat.
The company’s revenue grew 57.49 percent from Rs. 632.15 Crores in FY22 to Rs. 995.57 Crores in FY23, accompanied by increasing profits of Rs. 15.29 Crores to Rs. 47.41 Crores.
It has reported a return on equity (ROE) of 21.39 percent and a return on capital employed (ROCE) of 17.88 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold a 28.81 percent stake, Domestic Institutional Investors hold 0.11 percent and Foreign Institutional Investors hold 0.76 percent.
Foods & Inns Limited is India’s second-largest processor and exporter of processed fruit and vegetable products. It is primarily engaged in the manufacturing and selling of a variety of processed tropical fruits, vegetables, spray-dried powders, frozen foods, spices, and many more.
Written by: Bharath K.S
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